By Kate Snyder
The Sacramento area’s industrial market has seen some recent sales activity. An industrial park totaling more than 100,000 square feet in Rancho Cordova traded hands for $21.5 million, or about $143 per square foot, according to public property records. The seller was an entity affiliated with GPR Ventures, a real estate investment firm headquartered in Silicon Valley. The buyer was an entity affiliated with G&I X Mercantile Industrial LP.
The property is located at 2539 Mercantile Drive on the northeast end of the city. That building was constructed in 1986 and sits on 2.5 acres. In addition to the listed address, 2501, 2529 and 2640 Mercantile Drive were also included in the sale, according to a report from the Sacramento Business Journal. That report shows that the industrial park totals approximately 150,000 square feet.
Nearby businesses include supplies stores, building materials stores and home improvement shops. Southeast of the site is the Folsom South Canal. The property is also close to the Nimbus Industrial Park and Trade Center Business Park, which are both to the west, and Gold River Industrial Center, which is on the far side of U.S. Route 50.
Based in Campbell, GPR Ventures is a real estate investment firm with four offices across the West Coast, according to the company’s website. It was founded in 2011 and specializes in acquiring single and multi-tenant industrial and residential assets throughout the western United States.
The firm has acquired 125 industrial, multifamily and office buildings across 45 different projects. Its portfolio totals more than 4.1 million square feet of leasable space and 37 acres of industrial and mixed-use residential land, according to the firm’s website. In March 2021, GPR began its multifamily program and has acquired properties that total more than 215 residential units across four western states. The firm owns property in California, Nevada, Washington, Idaho, Utah and Texas.
